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As a side note: Audition is, in my opinion, much worse than CEP. If the OP really likes CEP, they might not find Audition a reasonable substitute.
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Sklivvz♦Jan 8 '11 at 23:28

@Sklivvz: exactly what I was going to write :)
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pt2ph8Jan 9 '11 at 12:25

It is miles and miles ahead of Soundbooth, though.
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NicJan 10 '11 at 11:46

+1 and it's now officially released as Adobe Audition CS5.5 for both Mac and PC. I use it on both platforms and they work pretty much the same. Also, if you have old Cool Edit Pro / Audition .ses files, you will need to get them converted to the new XML-based .sesx format using the following cheap third party tool: aatranslator.com.au/ses2sesx.html
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therobyouknowNov 25 '11 at 2:26

@Sklivvz - why do you think Audition is worse than Cool Edit Pro (CEP)? I have used both. Though I have to say that some of the great features in Audition have been in the software for years, including in CEP: such as the multi-track, non-destructive editor, the envelopes, the timeshifting, the noise reduction. I'm still learning with CS5.5 so maybe I'll see what benefits it brings.
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therobyouknowNov 25 '11 at 2:29

I tried Audacity a while ago, but I really don't like the interface. As for Cubase and Pro Tools, aren't they too 'big' to be compared to CEP? I need an application focused on audio editing only, easy to use and with a relatively simple interface - like CEP basically. Thanks for the answer!
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pt2ph8Jan 8 '11 at 17:02

As a fellow Cool Edit user, I recently started doing some basic single track recording on Mac. The best app I've come across so far has been Sound Studio by Felt Tip Inc http://felttip.com/ss/ (You'll need the older version created by FreeVerse for older versions of OSX). I'm planning to experiment with some other apps listed here: http://www.pure-mac.com/audio.html but will most likely purchase Felt Tip, as so far, it has served me well.